Aug 10, 2023

According to the crypto analysis firm L2Beat, around $150 million of deposits are locked into apps and protocols on Coinbase's new Base network.

Video transcript

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. Let's take a look at today's chart of the day. The amount of total value locked or TV L A common metric for evaluating blockchains and protocols is enough to rank base as the fifth largest layer two Blockchain. According to the crypto analysis firm, L two beat around $150 million of deposits are locked into apps and calls on the new base network. Nansen says that 22 early base whales are allocated heavily in meme coins across base and Ethereum. As of July 31st, the top 22 depositors have allocations in a telegram trading, bought token several meme tokens and an on chain casino token on July 31st base became accessible to those willing to interact directly with its smart contract. An an an analyst said there was not much else to do on base except aping meme coins. Hence, most of the whales in the report have some affinity to this. That's it for today's chart of the day. I'm Jenna. We'll see you next time to unpack more of the data behind top news stories.

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